Compliance Consultant, 1940 Act

Chicago, Illinois (US)
Base plus bonus and a generous benefits package
28 Dec 2022
27 Jan 2023
Job Function
Industry Sector
Asset Management
Employment Type
Full Time

Northern Trust is one of the world’s largest asset management firms with $1.2 trillion in assets under management across a range of investment strategies.  Thoughtful investors worldwide are making Northern Trust their asset manager of choice because they develop the answers clients need for today’s challenging world.  They have a level of client dedication and collaboration clients can’t find anywhere else, and are anchored by renowned integrity and stability. Their investment process combines exhaustive research and vigilant risk management to provide a solid foundation for investing, and they also have an integrated technology platform and processing infrastructure that work around the clock and around the globe.

The Compliance Consultant works closely with the fund CCO and the 1940 Act Compliance team to develop, administer, and update mutual fund and ETF compliance policies and procedures designed to comply with the Investment Company Act and Investment Advisers Act of 1940.
•Assist the CCO and the 1940 Act Compliance team in the development and administration of the mutual fund (and ETF as applicable) compliance programs; help define and develop risk parameters, implement the program and review the final reports. 
•Assist the CCO and the 1940 Act Compliance team in the Rule 38a-1 annual review for mutual funds (and ETFs as applicable) - perform testing and oversight of policies and procedures. Prepare written documentation of results for submission to the fund CCO.
•Coordinate and assist in the oversight of external sub-advisors’ Rule 38a-1 annual reviews working closely with the Sub-Advisor Compliance Due Diligence team. Prepare and coordinate written documentation of results for submission to the Fund CCO.
•Organize, analyze, review, and prepare deliverables for quarterly board reporting for mutual funds (and ETFs as applicable). Also, review sub-adviser compliance reporting for inclusion in quarterly reporting.
•Liaise with management and different departments regarding special projects and regulatory initiatives; provide guidance and analysis of rules and/or firm policies, as appropriate.
•Partner with business, operations, and legal partners to administer mutual fund compliance responsibilities and to advise on regulatory risks and requirements.
•Coordinate or assist in regulatory examinations and/or audits and prepare information and responses to various requests.
•Manage ad hoc projects, as needed.


•Minimum of 5 years of investment related experience with ETFs and mutual funds
•Strong familiarity with the Investment Company Act of 1940 
•Strong analytical and communication skills

About Northern Trust:   
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.   
Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.    
Working with Us:  
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.   
We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today. #MadeForGreater  

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